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Building Societies claim 63 per cent of new Tessa business

Building societies are attracting 63 per cent of the new money coming into Tessa accounts.

The societies suggest that this shows that will be a competitive force in when the ISA market launches next April.

Latest figures from the Bank of England reveal that although building societies account for just 30 per cent of outstanding Tessa balances, consumers are increasingly turning to them to house their tax free savings.

Building Societies Association director-general Adrian Coles says: &#34This is further evidence that consumers are recognising building societies&#39 competitive edge. Customers are increasingly turning to building societies for the attractive rates of interest and as a safe home for their tax free savings.&#34


Zurich revamps critical illness product

Zurich Life is revamping its critical illness product to offer three tiered cover including protection for serious accidents.The critical illness product is split into three levels offering basic, comprehensive or comprehensive plus cover.The basic and comprehensive products cover a range of core critical illnesses plus permanent total disability.The comprehensive plus product guards against illness and […]

FSA embarks on consumer education project

The Financial Services Authority is holding a forum to promote public awareness of the financial system fulfilling one of its four key statutory objectives.The Consumer Education Forum is being organised in association with the Money Management Council and will mark the beginning of a period of public consultation and debate on the FSA&#39s responsibility for […]


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